In order to take a withdrawal from your 401(k) you will need to complete the distribution request forms. First of all, I would contact the HR department at your former employer and find out about your distribution options given your disability. As the other advisor indicated, you may be subject to early withdrawal penalties of 10% if you are younger than 59 ½ and the income would be subject to ordinary income tax. Depending on your disability the early withdrawal penalty may be waved when taking a cash distribution. You could avoid potential penalties and current taxes if you were to roll the money into an IRA (individual retirement account). It would be wise to check with your tax accountant or advisor as well.
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There should be a phone number on your statement. Give them a call and they can help you. Otherwise contact the HR department of the company you used to work for.
I am sorry to hear about your disability. I hope you get well soon.
If you are under the age 59.5 you will pay income taxes and an additional 10 percent penalty from early 401k withdrawals. IRS will waive the penalty if you are permanently disabled. If you are eligible for SSDI or another private disability insurance, you will generally avoid paying the 10 percent penalty.
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those is available. Feel free to contact me via email to continue the conversation.